Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
16 Cards in this Set
- Front
- Back
|
Accounting Information Systems (AIS) |
a systemthat records, processes, and reports on transactions to provide financial and nonfinancialinformation to make decisions and have appropriate levels of internal controlsfor those transactions.
|
|
|
Relevance |
1. Predictive value (helps with forecasting) 2. Feedback value (corrects past predictions) 3. Timeliness (available in time for decisions) |
|
|
Reliability |
1. Verifiable (can be confirmed by independent party) 2. Representational Faithfulness (reports what actually happened) 3. Neutrality (information is not biased) |
|
|
Data Information |
- Raw facts that describe the characteristics of an event, have little meaning. - Data organized in a meaningful way to be useful to the user. |
|
|
Information Value Chain |
Overall transformation from a business need and business event to the collection of data and information to an ultimate decision. |
|
|
Discretionary Information |
Generally produced for internal purposes and not required by law to be provided to management. |
|
|
Mandatory Information |
Produced for external information for investors, banks etc, usually at lowest possible cost to comply with regulator laws. |
|
|
Specific Accounting Roles |
1. User 2. Manager 3. Designer 4. Evaluator |
|
|
Business Value Value Chain |
- Items, events, and interactions that determine the financial health/well-being of the firm. - Chain of business processes for a firm. |
|
|
Value Chain |
1. Firm Infrastructure - all activities needed to support the firm. (CEO, finance, accounting, etc) 2. HR Management - recruiting, hiring, training, & compensating employees. 3. Technology - all technologies necessary to the company (R&D). 4. Procurement - activities involving purchasing inputs (raw materials, supplies, & equipment.) |
|
|
Enterprise Resource Planning (ERP or ES) |
Centralized database that collects data from throughout the firm. (Data from orders, sales, inventory, customers, employees, etc). |
|
|
Supply Chain |
Flow of materials, information, payments, and services from raw materials suppliers, through factories and warehouses, all the way to customer. |
|
|
Customer Relations Software (CRM) |
software used to manage and nurture a firm's interactions with its current and potential clients. |
|
|
Business Process Business Analysis |
Business activities that use resources to transform inputs into outputs to achieve a business goal. Defining business process requirements and evaluating potential improvements. |
|
|
Business Model
|
Simple, abstract representation of one or more business processes. Explains how business processes and systems work. |
|
|
Activity Model |
Describes sequence of workflow in a business process. |
